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<keyword id="6367820" type="COMPANY" weightage="80" keywordseo="Adani-Group">Adani Group</keyword> has joined hands with the Rajasthan government to set a10, 000 mw Solar Power plant. 
 
The company’s Renewable Energy department has signed a 50:50 joint venture that is estimated to be the largest such integrated facility in India. 
 
The park is pegged to attract investments worth over Rs. 60,000 Crore. It is said to include generation projects and a manufacturing unit for solar module, parts and equipment. The group itself plans to generate around 5,000 mw in the said solar park. 
 
The solar park is a part of the Rajasthan government’s plan to achieve 25,000 mw solar power capacities by 2022. It has claimed to set up 1, 00,000 mw of solar power by 2022. 
 
(Image credit: Indiatimes)

Adani Group set to launch 10,000 MW solar power park
in Rajasthan

Business conglomerate <keyword id="6367820" type="ORGANIZATION" weightage="20" keywordseo="adani-group">Adani Group</keyword>'s edible oil firm <keyword id="236770" type="COMPANY" weightage="20" keywordseo="Adani-Wilmar">Adani Wilmar</keyword> on Monday filed draft papers with markets regulator <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">Sebi</keyword> to launch its initial public offer (IPO) to raise up to Rs 4,500 crore for funding its expansion. Adani Wilmar, an equal joint venture between Adani Group and Singapore-based Wilmar, was formed in 1999. It sells cooking oils under the <keyword id="27145" type="COMPANY" weightage="20" keywordseo="Fortune">Fortune</keyword> brand as well as various other food products like rice and sugar. The company, which aims to become a major <keyword id="34523" type="CITY" weightage="20" keywordseo="fmcg">FMCG</keyword> player, has an annual turnover of more than Rs 30,000 crore. In a regulatory filing, Adani Enterprises said <keyword id="4093966" type="COMPANY" weightage="20" keywordseo="adani-wilmar-ltd">Adani Wilmar Ltd</keyword> (<keyword id="3020883" type="ORGANIZATION" weightage="20" keywordseo="AWL">AWL</keyword>) has filed Draft Red Herring Prospectus (DRHP) with Sebi for its IPO. "The proposed listing of AWL on the stock exchanges will comprise an IPO in the form of fresh issue of new equity shares by AWL for an amount of up to Rs 45,000 million (approximately $600 million)," Adani Enterprises said. "There will not be any secondary offering," said Adani Enterprises, the flagship firm of the Adani Group. Adani Wilmar proposes to use the net proceeds to expand its existing manufacturing plants, set up new facilities, repayment/prepayment of borrowings, fund strategic acquisitions and investments, and general corporate purposes. "The proposed listing is intended to further the growth of AWL's operations by increasing its market visibility and awareness among current and potential customers," the filing said. "As there is no assurance that the Proposed Listing will proceed, shareholders and potential investors are advised to exercise caution when dealing with the securities of the company," Adani Enterprises said. In November last year, Gujarat-based Adani Wilmar completed 20 years of operations of its flagship 'Fortune' brand. AWL's deputy CEO Angshu Mallick had said the company's revenue is more than Rs 30,000 crore, of which edible oil business contributes around Rs 24,000 crore. Currently, six Adani Group companies are listed on domestic bourses. Apart from Adani Enterprises, other listed ones are Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports and Special Economic Zone. Adani Wilmar also sells soap, handwash and hand-sanitisers. SEE ALSO - <a href="https://www.businessinsider.in/tech/news/google-is-now-using-chrome-as-another-security-layer-for-account-sign-ins/articleshow/84975356.cms">Google is now using Chrome as an added security layer for account sign-ins</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-glenmark-life-sciences-ipo/articleshow/84978486.cms">Glenmark Life Sciences IPO: How to check allotment status, listing date and more</a>

Adani Group firm Adani Wilmar to raise ₹4,500 crore via IPO

The <keyword id="76451" type="COMPANY" weightage="60" keywordseo="Adani">Adani</keyword> Group is planning to invest in <keyword id="32723" type="COMPANY" weightage="60" keywordseo="Defence">defence</keyword> and aerospace production, thanks to Modi’s '<keyword id="6354869" type="UNKNOWN" weightage="80" keywordseo="make-in-India">Make in India</keyword>' campaign. 
 
According to media reports, the company is in talks with international defence companies for a strategic partnership to set up a defence manufacturing hub in India. It has been pitching its main asset — the country's largest private port with it’s sea and land links and the SEZ at Mundra in Gujarat. 
 
Sweden’s Saab is among the few companies being approached for these partnerships. The Swedish giant is already eyeing to set up production facilities in India. It wants major projects like the Rs 60,000-crore P-75I submarine contract and has proposed to manufacture the light Gripen fighter jet in India. 
 
Sources say Adani may also consider defence firms like Italy's Finmeccanica and US based Textron. The later owns BAE, which is being reviewed for a $700 million contract to supply howitzer guns to India. 
 
The Adani Group is the first among large Indian conglomerates to want to invest in defence and aerospace. Just last month the group has applied to the department of industrial policy &amp; promotion for a licence to manufacture helicopters under a new name — Adani Defence Systems &amp; Technologies Ltd. The sector has immense potential given that the country is one of the world's largest spenders in this area. 
 
(Image credit:Adani)

Watch out! Adani may raid the defence sector

New Delhi, Jan 14 () French energy giant Total SA's India head Alexis Thelemaque has been appointed as a director on the Board of billionaire Gautam Adani's gas retailing firm Adani Gas Ltd.
The appointment follows Total buying a 37.4 per cent stake in Adani Gas Ltd - the firm that retails gas to automobiles and households for an estimated Rs 5,700 crore.
"The Board of Directors of the company have, by way of circular resolution passed on January 14, 2020, appointed Alexis Thelemaque as an Additional Director (Non-Executive, Non-Independent)," Adani Gas said in a regulatory filing.
Thelemaque, who joined Total Group in France in 1993, is Chairman and Managing Director of Total Oil India Pvt Ltd.
Total, which in August 2018 exited a JV with Royal Dutch Shell in a 5 million tonne liquefied natural gas (LNG) import terminal at Hazira in Gujarat, had in October last year announced the acquisition of the stake in Adani Gas.
This followed by a 50:50 joint venture the two had agreed upon in October 2018 for two LNG import terminals of Adani on the east and west coast of India as well as for setting up of 1,500 petrol pumps in the country over 10 years.
The French firm is the latest energy major seeking to expand its presence in India, which is the world's third-largest and the fastest-growing energy consumer. In August 2019, Reliance Industries said Saudi Arabian Oil Co will buy 20 per cent of its oil-to-chemical business at an enterprise value of USD 75 billion.
As part of the deal, Total will first make an open offer to buy a 25.2 per cent stake in Adani Gas. Depending upon the success in the open offer, it will buy a stake from Adani to take its holding to 37.4 per cent in the company.
Adani family holds a 74.8 per cent stake in Adani Gas and will dilute shares to the public to bring down its holding to 37.4 per cent - at par with Total.
Adani family will sell some stake in the open market to meet the listing norm of keeping public holding at 25 per cent.
Adani Total joint venture (JV), where the two groups hold 50 per cent stake each, is building a 5 million tonne LNG import terminal at Dhamra in Odisha and will potentially hold a 25 to 50 per cent interest in Gujarat government's Mundra import facility.
This JV would also supply 3 million tonnes per annum of LNG to India and Bangladesh.
Adani Gas, wherein Total and Adani would hold 37.4 per cent stake each, is targeting to set up 1,500 CNG stations to retail gas to automobiles and piped cooking gas to 6 million households. It will also set up 1,500 petrol pumps over 10 years.
As part of this partnership, Total will bring its LNG and retail expertise and will supply LNG to Adani Gas. Total and Adani will also establish a joint venture to market LNG in India and Bangladesh. ANZ BAL

Total India head on Adani Gas board

<keyword id="6367820" type="General" weightage="20" keywordseo="adani-group" source="Orion">Adani Group</keyword> is well on track to be the worlds largest renewable power generating company by 2030, <keyword id="111343" type="General" weightage="20" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword>, Chairman, Adani Group said. Speaking at a JP Morgan event, Adani said the group is already the world's largest solar power player when we account for our generating, under construction, and contracted projects. "We have done this in just two years and our Renewables Portfolio has reached our initial target of 25GW a full four years ahead of schedule. This puts us well on track to be the world's largest renewable power generating company by 2030. This also opens up several new pathways for us including setting us up to be one of the largest green hydrogen producers in the world", Adani said. Adani announced that over 75 per cent of our planned capex until 2025 will be in green technologies. "We will triple our renewable power generation capacity over the next four years - from 21 per cent now to a high of 63 per cent. No company is building at this scale", he added. "Over the next 10 years, we will invest over 20 billion dollars across <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword> generation, component manufacturing, transmission &amp; distribution", Adani said. "We are now India's largest private sector power producer, largest private port operator, largest private airport operator, largest private consumer gas and electric utility business, largest private electric transmission company and largest infrastructure developer in renewables," Adani said. "In just the last eight years, we have acquired over 50 assets amounting to about 12 billion dollars. Every one of these has been successful and we have continued to get better at integrating the acquisitions we make. This is a rare capability we have built", Adani said. The Adani Group's plans for airport-centered growth include metropolitan developments that span entertainment facilities, e-commerce and logistics capabilities, aviation dependent industries, smart city developments, and other innovative business concepts. The best example is our Mumbai airport. "We will not only scale the existing airport but also operationalize the Navi Mumbai International Airport by 2024. This airport will handle 80 million additional passengers. This coincides well with India becoming the world's 3rd largest aviation market", Adani said. With regards to the Digital business, Adani said upcoming new businesses will include all of our digital-related ventures that now span Data Centres, Industrial Clouds, and the <keyword id="12142039" type="General" weightage="20" keywordseo="adani-digital-labs" source="Orion">Adani Digital Labs</keyword>. "Earlier this year we established Adani Digital Labs as a part of Adani Enterprises to be able to provide a unified experience to all our end consumers. Today, our end consumer base is growing at 15 per cent. If we can onboard every consumer that is an Adani Consumer on our digital platform, we will potentially have over a billion consumers by 2030," Adani said. "I have very little doubt that every one of our own B2C businesses will be engagements driven on mobile platforms. Therefore, the consumer insights we will obtain through a unified platform will set us on the path to building our own SuperApp platform', he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/paras-defence-and-space-technologies-ipo-gets-fully-subscribed-by-retail-investors-on-first-day/articleshow/86393465.cms">Paras Defence and Space Technologies’ IPO gets fully subscribed by retail investors on first day</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/srei-group-may-leave-4-billion-dollar-hole-in-icici-bank-axis-bank-uco-bank-and-canara-bank/articleshow/86389825.cms">Srei Group may leave a $4 billion hole in some of India’s biggest banks</a>

Adani Group to invest $20 billion in renewable energy in 10 years

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Adani Group set to launch 10,000 MW solar power park in Rajasthan

BI India Bureau

Adani Group firm Adani Wilmar to raise ₹4,500 crore via IPO

PTI

Watch out! Adani may raid the defence sector

BI India Bureau

Total India head on Adani Gas board

PTI

Adani Group to invest $20 billion in renewable energy in 10 years

IANS

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